The Waterproofing Systems Market is expected to be valued at USD 82.29 Billion in 2027 from USD 51.35 Billion in 2019, registering a CAGR of 6.5% through the forecast period. The market growth is driven by the rapid utilization of waterproofing systems to augment the longevity and durability of structures. The augmenting adoption of waterproofing systems can be accredited to the rising need to safeguard buildings in a flood-prone area. The growing need to protect the structures, walls, and building floor spaces, from mold and mildew are boosting the adoption of waterproofing systems in the commercial sector. Moreover, the installation of waterproofing systems decreases maintenance costs and ensures the quality and value of a property is maintained.
The rapid adoption of liquid waterproofing membranes in commercial and residential sectors can be accredited to the easy-to-apply quality of these membranes and the ability of membranes to retain waterproofing properties for a longer time. Additionally, the high elasticity of liquid waterproofing membrane reduces the chances of cracks caused by thermal expansion on terraces has been contributing to the growth of the market.
Prominent players of the industry are undertaking various strategies and expanding production facilities and their capacities to gain a robust footing in the industry and expand the product portfolio. For instance, Sika AG, in March 2020, announced its new manufacturing plant investment at its current manufacturing site in Sarnen, Switzerland, along with SikaProof structural waterproofing membrane. Expansion of the existing production plant is projected to boost the production capacity, thereby enabling market growth.
The rising advancement of R&D activities to develop superior eco-friendly and long-lasting waterproofing systems is increasing the demand for these systems to protect buildings and structures from environmental hazards and damage from outside factors.
Key Highlights from Report:
- The commercial segment is predicted to proliferate at the highest CAGR of 6.9% through the projected timeframe. The growth can be attributed to the high-performance and cost-efficient attributes of the waterproofing membranes. These attributes are augmenting the adoption of waterproofing systems in commercial buildings, thereby driving the market growth.
- The waterproofing membranes segment occupied the largest share of the industry in 2019. The growth is driven by the high performance and enhanced elasticity of waterproofing membranes that prevent cracks in the building structures.
- Asia Pacific market is poised to gain momentum in the forecast timeline and contribute to a significant share of revenue due to the rapid urbanization and expansion of the construction sector in developing countries of the APAC region.
- Major companies operating in the industry include Sika AG, Fosroc, Soprema Inc., Mapei S.p.A., GCP Applied Technologies, Bostik Carlisle Construction Materials LLC, Pidilite Industries, Tremco, and BASF SE.
For the purpose of this report, Emergen Research has segmented the Global Waterproofing Systems Market on the basis of application, end-use, type, and region:
Application Outlook (Revenue, USD Billion; 2017–2027)
- Roofing & Walls
- Building Structures
- Waste & Water Management
End-Use Outlook (Revenue, USD Billion; 2017–2027)
- Industrial Infrastructure Development
Type Outlook (Revenue, USD Billion; 2017–2027)
- Waterproofing Chemicals
- Integral Systems
- Waterproofing Membranes
Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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